Gold: trend analysis and price targets

GC1! has been very bullish in the last year, up to the record high at 2.800.
Currently the bullish trend seems to have stopped, as demonstrated by the symmetrical triangle configuration that developed starting from october 2024 and still on formation. Inside this consolidation phase, the point and figure analysis shows a double bottom sell signal (2.620 break). This signal is actually a weak one and its main indication is to underweight for those currently long and want to protect themselves from a possible bear market. The new buy-entry level is set at 2.760.

For those who want to follow this weak sell signal nonetheless, maybe looking for an aggressive counter-trend trade in anticipation of a bear market, it is possible to go short with target price set at 2.460 and stop loss at 2.760. A more ambitious target can be set at 2.360.